Innovate Corp sells controlling stake in broadcasting unit to Conx
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INNOVATE Announces Closing of the Sale of a Controlling Interest in its Broadcasting Segment to CONX
September 2, 2026 8:30 AM EDTNEW YORK, Sept. 02, 2026 (GLOBE NEWSWIRE) -- INNOVATE CORP.® (NYSE: VATE) (INNOVATE or the Company) announced today the successful closing of the previously announced transaction between INNOVATE and CONX Corp. (CONX), pursuant to which CONX acquired a controlling interest in HC2 Broadcasting Holdings Inc. (HC2), a holding company for INNOVATEs Broadcasting segment. The transaction follows the completion of the Broadcasting segments refinancing announced on June 1, 2026.
CONX has acquired a controlling interest in HC2 and now holds a 75% ownership interest in HC2, while INNOVATE retains a 25% ownership interest, subject to potential reduction in connection... More
